Apollo Investment Management announced that its funds will acquire a 40% ownership interest in Pembina Gas Infrastructure Inc. (PGI), the gas‑processing arm of Pembina Pipeline Corporation. The 40% stake is being sold by funds managed by KKR, while Pembina will retain its 60% ownership and continue to operate and manage PGI’s facilities.
PGI operates 23 gas‑processing plants, 3,900 kilometers of gathering pipelines, and has approximately 330,000 barrels per day of natural‑gas‑liquids extraction capacity. Its combined processing capacity is roughly five billion cubic feet per day, and the network serves customers throughout the Montney and Duvernay trends in the Western Canadian Sedimentary Basin.
Apollo views PGI as a premier Canadian platform strategically situated at the inlet of the Global Industrial Renaissance, with assets supporting industrial end markets that underpin the energy security of North American economies. “We see a compelling opportunity to grow the business alongside these tailwinds, with the potential to deploy capital into attractive development projects alongside one of the world’s leading midstream operators,” said Scott Browning, partner at Apollo.
Pembina will remain fully committed to the operational leadership and strategic direction of PGI. “PGI is a cornerstone of Pembina’s integrated midstream platform and a critical piece of Western Canadian energy infrastructure… Pembina remains fully committed to the operational leadership and strategic direction of PGI,” said Scott Burrows, president and chief executive officer of Pembina Pipeline.
The transaction is expected to close by the end of the second quarter of 2026, subject to customary regulatory approvals and closing conditions. The deal value was not disclosed. Apollo’s investment aligns with its broader strategy of deploying over $120 billion across infrastructure and energy‑transition opportunities in the past five years, while Pembina’s recent financial performance—$489 million in earnings and $1.075 billion in adjusted EBITDA for Q4 2025, and $502 million in earnings and $1.167 billion in adjusted EBITDA for Q1 2025—provides a strong backdrop for the continued partnership.
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